Economic Dashboard August 2017

How is the economy right now in Durango and La Plata County?

Find out the latest on our employment, home construction, tourism, and other key measures of our local economic performance. If you have any questions, please feel free to contact us and we can walk you through what the data means.

Local Economic Conditions

August 2017

Economic conditions in La Plata County from August 2013 to July 2017.

 

Summary
Improved (+) 6
No Change (o) 6
Declined (-) 9
Improved (Declined) (3)
8
Current Last Month Last Year

Change

(vs Last Year)

Workforce
  Labor Force 31,596 32,986 31,209 o
  Unemployment Rate (%) 1.9 2.0 2.9 +
  Labor Force Participation (%) 55.5 58.0 55.8 o
  Job Openings 1,860 2,166 2,214
Average Wage, Openings ($to Date) 34,580 35,048 32,113 +
8
Construction & Housing
  New Permits (to Date) 154 142 154 o
  Value of Permits ($,000) (to Date) 81,492 75,219 73,186 +
  Home Sales 565 476 544 +
  Average Home Price ($) 433,419 433,349 439,102 o
  Earnings Needed* ($) 70,500 71,300 67,700
8
Travel & Tourism
  Enplanements 18,003 18,499 18,384
  Lodgers Tax ($) 164,387 144,637 169,759
  Train Visitors 25,383 36,542 26,042
8
Gas & Oil
  New Permits (to date) 81 62 79 +
  Production (mmcf) 24,223 24,633 25,988
8
Other
Sales Tax, Durango ($,000)** 1,548 1,620 1,512 +
Commercial Sales ($,000) (to date) 18,376 17,631 27,079
Foreclosures (to date) 42 36 38
  Energy Use
     Large Industry (mwh) 32,638 31,709 32,319 o
     Other Commercial (mwh) 21,537 22,208 23,047
     Commercial Accounts 6,424 6,423 6,402 o

Notes:

*”Earnings needed” is the household income necessary to purchase an average-priced home in La Plata County.

**Sales tax for Durango includes Use Tax.

Sources: Employment: Colorado Department of Labor and US Census Construction & Housing: City of Durango, La Plata County, Mortgage-X.com, and the Wells Group  Travel & Tourism: City of Durango, Durango Area Tourism Organization (DATO), and Durango & Silverton Narrow Gauge Railroad   Gas & Oil: Colorado Oil & Gas Conservation Commission  Other: City of Durango (Sales tax and business permits), La Plata County Treasurers Office (Foreclosures),  and LPEA (Energy Use) (LPEA data is unaudited)